Legal Question in Real Estate Law in Pennsylvania

Re: deeds

The mortgage probably has a "due-on-sale" clause that prohibits transferring any interest in the property without the prior written consent of the mortgage holder. Your fiance should check with the mortgage holder if he may add you to title.

If the mortgage holder gives written consent, your fiance may sign a new deed transferring some of his interest to you. You should consult an attorney to help determine how the two of you should hold title.

It is important for both of you to have a co-owners' agreement that spells out your respective rights and obligations, such as: (1) who pays what, (2) what happens if one does not pay; (3) what happens if one party wants out of the transaction; (4) what rights, if any, will the parties have to rent out the place if one wants out; (5) what if one wants to sell and the other does not, etc. It should also show what each person's contribution toward the property is.

You should have a local experienced real estate lawyer assist you with both the co-owners' agreement and the deed.